Govt opens window for disclosure of foreign assets, income
- Posted on August 15, 2026
- By Business News Today
- 1 Views
- 1 min read
In brief
India's tax authority has introduced a voluntary disclosure scheme enabling taxpayers to declare previously unreported foreign assets and income. The initiative features two compliance pathways with minimum thresholds of ₹1 crore and ₹5 crore respectively. Participants must submit electronic declarations by December 31, 2026, adhering to specific payment obligations and regulatory requirements to regularize their international financial holdings.
Summary auto-generated by AI from the original publisher's content. Editorial standards.
Govt opens window for disclosure of foreign assets, income
The government has opened a limited window for taxpayers to disclose specified foreign assets and income. Two routes offer eligibility thresholds of ₹1 crore and ₹5 crore, with electronic declarations required by December 31, 2026, subject to prescribed payments and conditions.
